July 11, 2007 RE: Settlement of Liquidated DamagesEnigma Software Group, Inc • July 18th, 2007 • Services-prepackaged software
The parties hereto by executing this settlement and release (the “Settlement”) hereby agree upon execution of final documentation of the documents described herein, to waive and release Enigma Software Group, Inc. (the “Company”) from its obligation to pay liquidated damages, lower the maximum conversion price, or be responsible for any of the default penalties for not making Payments as of the date of this Settlement, under the Transaction Documents between the Company and Dutchess Private Equities Fund, Ltd. as successor in interest to Dutchess Private Equities Fund, LP & Dutchess Private Equities Fund, II, LP (“Dutchess”), in exchange for the following:
